You are viewing:-
you're reading...
1.Market Observations, 2.Economic forecasts, 8.Was Sticky

4 Oct 2018 (AFR) – Manhattan home sales fall for fourth quarter in a row as listings clog market

(4 October 2018, AFR, p42, by Oshrat Carmiel)

‘It’s been a rough year for Manhattan’s home sellers, and they’re not about to catch a break any time soon. In the three months through September, purchases dropped 11 per cent from a year earlier to 2987 – the fourth straight quarter with a decline, according to a report by appraiser Miller Samuel Inc and brokerage Douglas Elliman Real Estate. Listings piled on to the market at an even greater rate, climbing 13 per cent to 6925 homes. A surging stock market typically fuels buyer bullishness on Manhattan real estate, but not this time. Years of escalating prices, coupled with federal tax changes that increased burdens for some homeowners have would-be purchasers assessing the value of buying property against other investments.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

Advertisements

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Advertisements
%d bloggers like this: